On first inspection, Citi is upbeat on Bubs Australia's 2Q25 trading update. All regions generated a positive change in momentum, with higher-than-anticipated margins at the group level of 48% versus the broker's 40% forecast from improved packaging.Operating cash flow came in at $3.9m, compared to outflows in the previous corresponding period, the analyst states. Management reconfirmed FY25 guidance in revenue and break-even earnings before interest and tax.Citi is encouraged by the report but remains Neutral, High-risk rated. The analyst is seeking further confirmation of sustainable cash flow and clarity on US FDA approval.
BUB Price at posting:
11.0¢ Sentiment: Sell Disclosure: Not Held
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